Watches worth ¥43 million stolen from Kumamoto store

No. Worth is determined at the point people make an exchange for an item. It is the exchange that defines the worth. Until it is exchanged, the worth is unknown. You may think it’s worth something, but if no one will pay what you think it’s worth, then it’s not worth that.

The crooks now have lots of time on their hands.

@ chippedscar - when you use absolutes like "only" it's easy to prove you wrong. They could also be traced and identified as stolen when an unsuspecting buyer brings one in to a dealer for service (battery change, cleaning, repair) where it is common practice to check the registration.

One problem with rolexes, and I assume other brands, is they have a serial number. They can be traced and identified as stolen.

Sounds like security was a bit lacking.

The headline is misleading. No watches are worth an average of 700,000 yen. They may be valued at that price, but they ain't worth that price.

Rolexes top that price regularly. People pay those prices. So it's not just a valuation. Something is worth what people pay for it. If it wasn't worth that, people would not pay.

so quick to point out your perceived mistakes in others comments. I was merely defining service, not that all service applies to all models of Rolex

Dang, a ¥43,000,000 watch. I'm good with my ¥8,000 one (also probably the most I've ever spent on a wrist watch).

I'm using a $39 Casio. Works fine, and I don't stress about losing or damaging it. Plus, it has a ten year battery.

Funny everybody is talking about Rolexes when they are at the cheaper end of high end watches, probably because people with zero interest in watches still know what a Rolex is. Lots of complicated watches go for over $100,000 USD.

And it's not about how well the watch keeps time. A cheap Seiko is probably more durable and accurate than a $100,000 tourbillon watch with complications. Collectors are fascinated by the detailed hand craftsmanship and engineering. The more complex the better. It's not really about telling time.

Rolexes, on the other had, are just nice simple watches.

I am fascinated, but only an observer. I wear a cheap Citizen Eco most days. I met the richest man in the world once (at that time), and noticed he was wearing a Timex.

Coming to a Craigslist or Yahoo Auctions near you soon.

Automatic watches from top end designers begin at $10,000. Furthermore, these watches are purchased because they tend to rise in value as time goes on. Automatic watches are considered lifetime watches.

The market for fake automatic watches are just as lucrative. There are people that bring in millions per year just by selling knock offs. Some of these fakes go for $4,000 and the people buying them know that they are fake.

An expensive brand name watch is just a accessory that some people use to indicate they are wealthy. Knock on wood for luck - I can purchase a Rolex for every day of the month if I wanted too but I prefer using the Seiko divers watch that I have had since 1982 it keeps great time, it looks good and I found the watch to boot. So why throw money away on a Brand Name watch.

So why throw money away on a Brand Name watch.

Like with most quality brands, you're definitely paying for the name, but you're also paying for the quality that goes along with that name.

Rolexes don't use batteries.

For the most part yes, BUT they did make the Oysterquartz as well!

Most brands u can get cheaper on fake in Hong Kong Street Shops which can last about 5 years, Not bad but i go for Orient.

They all are serial numbered so should be easy to find?

@Gogogo, just because they have a serial number it won't make then easier to find, but it will make them easier to be identified when found, these could go missing for years and years, if they get passed onto family members in 30-40 years time and some one takes them into a shop for a service or repair then they will be recovered and returned to the rightful owner. I had e a lot of items stolen from my work shop all had there serial numbers noted, and given to the police, but Ill never ever see them again unless there is a police raid and stuff is recovered.

If I was in the market for an expensive high-end watch ( I'm not) the top japanese brands would be my first look.

A Grand Seiko or Seiko divers, Citizen eco or Casio - G, all represent the highest lifetime quality with an expensive but more affordable price tag.

Rolex, Cartier etc all a bit too "putting on the ritz" for me. lol.

People routinely pay more than something is worth.

When my son visited last year, he bought a stainless steel Rolex in Tokyo for over $4,000. Apparently, that's what it was worth to him. In Germany, the same model costs much more, not worth that much to him. But, since people were buying them there, they were obviously worth it to them.

Rolexes don't use batteries.

They can only be traced and identified as stolen if they are located and someone had a suspicion they are stolen.

The headline is misleading. No watches are worth an average of 700,000 yen. They may be valued at that price, but they ain't worth that price.